AXQ Capital LP Has $2.54 Million Position in Bentley Systems, Incorporated $BSY

Key Points

• AXQ Capital nearly doubled its Bentley Systems position in the second quarter, purchasing 42,325 additional shares to hold 84,894 shares valued at approximately $2.54 million. Institutional investors collectively own 44.16% of BSY.
• Bentley Systems reported quarterly EPS of $0.35, beating estimates by $0.03, while revenue rose 12.8% year over year to $410.73 million, slightly below analyst expectations.
• BSY shares were trading at $35.59, up 1.3%, while analysts maintained a generally positive outlook: the stock has a “Moderate Buy” consensus rating and a $45 average price target.

AXQ Capital LP boosted its position in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 99.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 84,894 shares of the company's stock after purchasing an additional 42,325 shares during the period. AXQ Capital LP's holdings in Bentley Systems were worth $2,537,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Arrowstreet Capital Limited Partnership grew its position in shares of Bentley Systems by 253.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,781,449 shares of the company's stock valued at $167,924,000 after purchasing an additional 3,429,087 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Bentley Systems by 150.9% during the first quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company's stock worth $163,703,000 after buying an additional 2,803,241 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Bentley Systems in the second quarter valued at about $78,738,000. Norges Bank bought a new stake in shares of Bentley Systems in the fourth quarter valued at about $68,766,000. Finally, Madison Asset Management LLC acquired a new position in shares of Bentley Systems in the second quarter valued at about $40,807,000. Institutional investors own 44.16% of the company's stock.

Bentley Systems Trading Up 1.3%

NASDAQ BSY opened at $35.59 on Friday. The firm has a market capitalization of $10.34 billion, a PE ratio of 39.11, a price-to-earnings-growth ratio of 2.22 and a beta of 0.98. The business's 50-day moving average price is $34.09 and its two-hundred day moving average price is $34.02. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Bentley Systems, Incorporated has a 12 month low of $28.08 and a 12 month high of $57.25.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.03. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%.The company had revenue of $410.73 million for the quarter, compared to analyst estimates of $412.12 million. During the same period in the prior year, the firm earned $0.32 earnings per share. Bentley Systems's revenue for the quarter was up 12.8% on a year-over-year basis. On average, analysts expect that Bentley Systems, Incorporated will post 1.19 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BSY. Zacks Research downgraded shares of Bentley Systems from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 21st. Piper Sandler restated an "overweight" rating and issued a $45.00 target price on shares of Bentley Systems in a research report on Friday, August 7th. Mizuho cut their price target on shares of Bentley Systems from $50.00 to $45.00 and set an "outperform" rating for the company in a report on Friday, May 8th. Rosenblatt Securities reiterated a "buy" rating and set a $50.00 price target on shares of Bentley Systems in a research report on Monday, August 10th. Finally, Weiss Ratings raised shares of Bentley Systems from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, August 27th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $45.00.

About Bentley Systems

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.

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